BUYER DISCOVERY
Who buys healthtech?
32 disclosed healthtechacquisitions analyzed — the active strategic and private equity buyers, how often each one buys, and their most recent named deals. Sourced from SEC filings and verified M&A press releases.
Quick answers
- How many disclosed transactions?
- 32 disclosed healthtech acquisitions with a named acquirer.
- Most active buyers
- Vista Equity Partners (2) · Thoma Bravo (2) · Transcarent, Inc. (1) · MDaudit (1) · RadNet, Inc. (1) · Voya Financial (1)
- What would these buyers pay for my business?
- Run the ExitValue.ai calculator to price your healthtech against these 32 disclosed transactions. The engine surfaces what each buyer pool pays for your size, margin, and growth profile.
Top strategic buyers
Operators, larger competitors, and corporate consolidators acquiring healthtech businesses for synergy and capability fill.
| Acquirer | Deals | Median deal size | Recent targets |
|---|---|---|---|
| Transcarent, Inc. | 1 | $621M | Accolade, Inc. (2025) |
| MDaudit | 1 | $37M | Streamline Health (2025) |
| RadNet, Inc. | 1 | $86M | iCAD, Inc. (2025) |
| Voya Financial | 1 | $570M | Benefitfocus (2023) |
| Nautic Partners / ExactCare Pharmacy | 1 | $570M | Tabula Rasa HealthCare, Inc. (2023) |
| Vera Whole Health | 1 | $304M | Castlight Health, Inc. (2022) |
| StrykerCorp. | 1 | $2.6B | Vocera Communications, Inc. (2022) |
| Optum, Inc. | 1 | $13.7B | Change Healthcare, Inc. (2021) |
| Microsoft Corp | 1 | $18.8B | Nuance Communications, Inc. (2021) |
| Teladoc Health, Inc. | 1 | $13.8B | Livongo Health, Inc. (2020) |
| Dassault Systemes | 1 | $5.8B | Medidata Solutions, Inc. (2019) |
| Franciso Partners | 1 | $41M | Connecture, Inc. (2018) |
Top private equity buyers
Private equity firms and PE-backed platforms rolling up healthtech businesses. Platform-tier buyers typically pay up for scale, clean financials, and a management layer that survives integration.
| Acquirer | Deals | Median deal size | Recent targets |
|---|---|---|---|
| Vista Equity Partners | 2 | $947M | Model N (2024), Greenway Medical Technologies, Inc. (2013) |
| Thoma Bravo | 2 | $1.2B | NextGen Healthcare (2023), Imprivata, Inc. (2016) |
| Altaris | 1 | $419M | Sharecare, Inc. (2024) |
| Patient Square Capital | 1 | $341M | SOC Telemed (2022) |
| Nordic Capital / Insight Partners | 1 | $7.3B | Inovalon (2021) |
| Veritas Capital/Evergreen Coast Capital | 1 | $5.7B | Athenahealth, Inc. (2018) |
| EQT Partners | 1 | $2.4B | Press Ganey Holdings, Inc. (2016) |
| One Equity Partners | 1 | $1.1B | Mmodal Inc. (2012) |
| Genstar Capital | 1 | $423M | eResearch Technology, Inc. (2012) |
| Vestar Capital Partners V, L.P. | 1 | $294M | HealthGrades, Inc. (2010) |
Recent M&A activity
Disclosed healthtech acquisitions by year.
Methodology note
Acquirer activity reflects disclosed M&A transactions in the ExitValue.ai database, filtered to healthtech businesses with a named acquirer. Counts include deals with disclosed financials only — total transaction volume in this segment is typically 2–3x larger. The valuation engine reveals what each buyer pool pays for your specific business when you run the calculator. Full methodology
What's your healthtech worth to these acquirers?
12-input M&A-grade workup with sellability score, named comparable deals, and AI-written commentary. 2 minutes.
- ✓Sellability score with 5-driver breakdown and lift estimates
- ✓Named comparable M&A transactions in your sub-vertical
- ✓AI-written analysis grounded in your specific inputs
Engine-grounded estimate. Comparable named deals on the full results page.
More on healthtech valuations
- Healthtech valuation calculator· head-term variant
- Healthtech median multiples· real-deal benchmarks
- Who buys healthtech businesses?· active buyers
- Who acquired Accolade, Inc.?· buyer profile